A legislative body of a city may designate one or more proposed infrastructure revitalization financing districts pursuant to this chapter. Proceedings for the establishment of a district shall be instituted by the adoption of a resolution of intention to establish the proposed district and shall do all of the following:
(a) State that an infrastructure revitalization financing district is proposed to be established under the terms of this chapter and describe the boundaries of the proposed district and any project area proposed within the district, which may be accomplished by reference to a map on file in the office of the clerk of the city.
(b) State the type of facilities proposed to be financed by the district. The district may only finance facilities authorized by Section 53369.3.
(c) State that incremental property tax revenue from the city and some or all affected taxing entities within the district may be used to finance these facilities.
(d) State that net available revenue from the city may be used to finance these facilities and state the maximum portion of the net available revenue to be committed to the district for each year during which the district will receive these revenues.
(e) Fix a time and place for a public hearing on the proposal.
(Added by Stats. 2014, Ch. 775, Sec. 1. (AB 229) Effective January 1, 2015.)